The National Bank for Agricultural and Rural Development (NABARD) has projected priority sector lending of Rs.6.13 lakh crore during 2022-23 for Maharashtra. The State Focus Paper projecting a potential credit outlay of Rs.6,13,503 crore to priority sectors, with 57% share allocated for MSMEs in the State during 2022-23 was launched by Uddhav Thackeray, Chief Minister on Monday in Mumbai.
The Maharashtra Regional Office of NABARD, Pune conducted the State Credit Seminar on Monday at Mumbai. The credit projections include estimations of Rs.1,43,019 crore (23%) for agriculture, Rs.3,48,372 crore (57%) towards MSME and Rs.1,22,112 crore (20%) to other priority sectors. "Possible ways of increasing credit outreach in the State, specially to small and marginal farmers were discussed in detail," said a NABARD release.
In his keynote address, the chief minister emphasised the need for concerted action by State Government Departments, Banks and NABARD for realising the credit potentials so as to increase farmers’ income. He indicated the need for addressing the "There is need to address the challenges posed by climate change and natural calamities, especially in Konkan region, through increased investment for climate proofing," said Thackeray and called for more financial assistance from NABARD for promoting various rural infrastructure facilities in the state and also a long term plan for the same. Speaking on the occasion, Balasaheb Patil, Minister for Cooperation and Marketing emphasised the need for fresh credit from banks to eligible farmers covered under the State’s debt Waiver Scheme.
The representatives of the state government expressed need for more projects under climate change in vulnerable districts. A S Rajeev, MD, Bank of Maharashtra assured the house of the support from banking sector to realise the credit potentials for 2022-23 and provide maximum benefit to the borrowers in the State. G S Rawat, CGM, NABARD suggested need for taking measures like separate FPO policy, promotion of integrated farming models and timely execution of rural infrastructure projects in the State for addressing issues faced by small and marginal farmers. Ends